3. EnerSys (NYSE:ENS)
Market Capitalization as of September 5: $3.876 billion
Number of Hedge Fund Holders: 30
One of the biggest lithium stocks, EnerSys (NYSE:ENS) is a leading global provider of energy storage solutions, serving a wide range of industrial applications with its diverse portfolio. The company’s expertise is across manufacturing and distributing energy systems, motive power batteries, specialty batteries, battery chargers, and various power equipment.
It is particularly known for its contributions to telecommunications, broadband, utility industries, and critical backup power systems. A significant part of the company’s success comes from its comprehensive energy solutions, which include everything from power conversion to energy storage systems. The company’s NexSys iON lithium-ion batteries are designed for demanding industrial uses, such as material handling, and come with a sophisticated Battery Management System (BMS) that enhances safety and performance.
Meanwhile, its PowerSafe iON batteries provide crucial backup power for broadband networks, with the PowerSafe iON 36-1800 model offering up to 1800 Watts of power to sustain network operations for up to 72 hours during power outages.
The company’s acquisition of NorthStar reinforced its leadership in the premium Thin Plate Pure Lead battery market as it expanded its reach across all its business segments. The company is also making significant strides in expanding its production capabilities.
It plans to build a 4-GWh lithium-ion cell manufacturing facility in Greenville, South Carolina, with construction set to begin in early 2025 and operations anticipated to start in late 2027. The new plant will focus on producing a variety of lithium-ion cells for commercial, industrial, and defense applications, which will reduce its dependency on international suppliers.
Additionally, the company partnered with Verkor in 2023, a European battery technology firm, to explore the development of a lithium-ion battery factory in the U.S. The collaboration aims to improve both companies’ growth prospects and support the transition to clean energy with cutting-edge battery technology.
The company’s batteries have a proven track record in demanding environments, including space missions. As of February 2022, its batteries have accumulated an impressive 6.8 billion operational cell hours in space, powering missions to Earth, Mars, Venus, and even NASA’s Parker Solar Probe.
In its recent fiscal Q1 2025 earnings report, EnerSys (NYSE:ENS) delivered a non-GAAP EPS of $1.98, which surpassed expectations. It showed strong financial performance with $853 million in revenue.
On August 27, Roth MKM Chip Moore started coverage of the stock with a Buy rating and a $120 price target. The analyst cited the company’s strong position in addressing evolving power challenges and its innovative responses to trends like electrification and automation. The positive outlook highlights its potential for continued growth and its role as a key player in the energy transition.
According to our database, 30 hedge funds held stakes in EnerSys (NYSE:ENS) in the second quarter, with positions worth $430.571 million. With a position valued at $94.022 million, AQR Capital Management is the largest shareholder of the company, as of June 30.
